Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Yes, based on your detected country of NL, you can open an account with this broker. For MetaTrader OANDA provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LimeFx provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
Commissions and fees
- Our automated aggregation service scans hundreds of media sources, as well as blogs and social networks, to deliver live and objective news coverage without editorial control.
- High and medium frequency funds, on the other hand, have access to prime brokerage services through LimeFx Prime.
- Additional important toolkits offered by LimeFx include applications, virtual private server (VPS) hosting, and application programming interface (API) tools for the construction of individualized trading applications.
However, it lacks two-step authentication, which is an essential security feature. Like LimeFx, OANDA has a commission account called their Cores spread account, and it is available in Australia, https://limefx.vip/ Singapore and the US. This account has a fixed rather than a tiered commission for each lot, this being $7.00 per lot, which in our experience, is the standard amount most brokers charge.
What is the minimum deposit requirement for opening an account with OANDA?
Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we’ve determined that, overall, OANDA ranks more highly than LimeFx. We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other. Overall, customer surveys indicate LimeFx is more responsive to trader needs and more professional in how inquiries are handled.
Popular Forex Broker Reviews
Compare Oanda and LimeFx in this detailed breakdown of their platforms, features and fees. This website does not provide investment advice, nor is it an offer or solicitation of any kind to buy or sell any investment products. Rates and terms set on third-party websites are subject to change without notice. The OANDA subsidiary with whom a client contracts depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence. OANDA is the top regulated online forex broker in the United States, and it also has operations in several other countries across the world.
Oanda is a global forex broker and one of the oldest in the market, headquartered in London and supervised by the UK financial regulator FCA, but also has offices in Singapore, Tokyo, Toronto, Chicago and Zurich. You can trade forex or CFDs on indices, commodities or bonds at Oanda either through its own trading platform fxTrade or with MetaTrader 4. While both brokers offer a diverse range of trading instruments, LimeFx has a broader selection compared to Oanda in terms of the number of tradeable symbols. LimeFx provides access to 440 symbols, including 41 forex pairs and 399 CFDs on indices, commodities, metals, cryptocurrencies, and shares. On the other hand, Oanda offers 124 symbols, encompassing 71 forex pairs and 53 CFDs on indices, commodities, metals, and bonds.
LimeFx is also a great option for beginners, due to its wide range of educational materials and easy-to-use platforms, including its latest integration with TradingView. Rather, it is simply important to understand the different pricing structure that comes along with each business model so you can pick the one that makes limefx reviews the most sense for your own forex trading needs and goals. Experienced traders in particular are well-served by Oanda’s research and resource offerings. Oanda’s mobile app for iOS/Apple is a hit with traders as the recent reviews will attest. Unfortunately, the same does not hold true for the Android version of the app.
Oanda’s fxTrade platform is available in desktop, web, and mobile versions, providing a user-friendly interface and comprehensive trading tools. Traders can choose between the two platforms based on their preferences and trading strategies. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries.
This trend continues across the other forex pairs, with OANDA consistently offering slightly lower spreads than LimeFx. The range of products available to you will depend on which global entity under the LimeFx Group houses your trading account. The following table summarizes the different investment products available to LimeFx clients. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry.
Oanda, on the other hand, seems to have developed somewhat of a reputation for sub-par customer support. Surveys show the platform rates just above average across the board in this area. There is also a plugin traders can use to integrate with their own MT4 platform as desired. Each trader comes to the forex marketplace with their own individual needs, preferences and goals. They are now based out of London, UK (and thankfully well on the road to recovering their reputation as an online broker who can once again be trusted). Pricing information for currency pairs is obtained by LimeFx from premium liquidity sources such as international banks and financial institutions.
The pros and cons between the two spreads can vary for every trader. In this case, OANDA provides their pricing withFixed spread while LimeFx offersFixed spread. LimeFx provides a respectable variety of market research from a combination of in-house content and third-party materials.
For traders who want to use their own or another outside trading platform, LimeFx now offers this extra perk as well. And for big ticket forex traders, LimeFx makes its virtual private server (VPS) network available gratis. By 2018, LimeFx was under new ownership with a new global CEO, longtime company executive Brendan Callan.
For traders who appreciate advanced trading tools and quality market research, LimeFx is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at LimeFx is just average. From my perspective, LimeFx is the better option for UK Forex traders. Both brokers are FCA regulated, but LimeFx offers spread betting, which is a tax-efficient way to trade in the UK.
Conversely, LimeFx presents a wide spectrum of markets and instruments, paired with low floating spreads, to cater to a multitude of trading strategies. This flexibility makes LimeFx an attractive option for both beginner and experienced traders alike. It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
OANDA provides investors with a website that is simple to use and gives a variety of trading opportunities. It contains useful information that may be of use to traders in advancing their careers. Customers may have access to the market on a scale not available from any other company because of their connections to prime brokers, technology suppliers, and tier-one banks. Yes, both these brokers offer MetaTrader, but LimeFx only offers MetaTrader 4. LimeFx, on the other hand, is regulated by two Tier 1 entities – the Australian Securities and Investment Commission and the Financial Conduct Authority. With so much experience under their belt, it’s no surprise that both online traders gathered quite a loyal network of customers, attracting both professional and beginner traders.
We found it surprising that OANDA doesn’t have shares trading with CFDs, not just because most forex brokers offer this, but because OANDA is such a major global broker. Looking at the average standard account spreads for the forex pairs, we can see some interesting patterns. For the EUR/USD pair, LimeFx has an average spread of 1.3, while OANDA has a slightly lower spread of 1.2.